Application of the new tenancy law, increase in the rent for apartments in the metropolitan area

(Seoul = Yonhap News) Reporter Hae-in Hong = The jeonse price of apartments in the metropolitan area (the ratio of the jeonse value to the purchase price) has increased for two consecutive months following the application of the new law on lease, based on the right to request the renewal of the contract and on the system of limits that follow.

According to KB’s monthly housing price trend data from KB Kookmin Bank’s Real Estate Liveon, Seoul apartment rent last month was 54.2%, up for the second consecutive month since August ( 53.3%) and September (53.6%). The increase also went from 0.3 percentage points in September to 0.6 percentage points in October. It’s only been 4 years and 4 months that the jeonse rate has increased for the second consecutive month. The photo shows an apartment complex around Seodaemun-gu, seen from Ansan, Seodaemun-gu, Seoul on 15. 2020.11.15

[email protected]